1. A person with a spouse but no children should get enough insurance to _______

Question

1. A person with a spouse but no children should get enough insurance to ________.

Select one:

a. Cover their debts

b. Support the spouse for the rest of their lives

c. Pay for potential future children

d. Cover funeral expenses

e. None of the above

2. Medicaid assistance to long term care is limited to

Select one:

a. Those without private long term care insurance

b. Those with neither IRAs or 401ks

c. Those with less than $30,000 in total assets

d. Those with less than 2,000 in savings

e. Renters

3. _______ life builds up a cash value.

Select one:

a. Universal

b. Adjustable

c. Variable

d. All of the above

e. Limited payment

4. You would probably want to get separate belongings coverage for:

Select one:

a. Electrical wiring

b. None of the above

c. Jewelry

d. A swimming pool

e. Tools

5. If you rely on your occupation to ________ disability insurance may be necessary.

Select one:

a. Fund your IRA

b. Pay your rent

c. Provide your leisure

d. Fund your child's education

e. None of the above

6. With pure risk there is no chance for ______.

Select one:

a. Gain

b. Loss

c. Breaking even

d. Insurability

e. None of the above

Explanation / Answer

Answer 1 b) Support the spouse for the rest of their lives.Because after the death of husband ,nobody is with the spouse to support her financially.

Answer 2 b) Those with neither IRAs or 401ks . Since his countable income is no higher than the state's income limit of $400, he can be eligible for Medicaid as medically needy. For a person with high income, the spenddown liability can be considerable. But, a person receiving long-term care services. Long-term care helps meet health or personal needs.

Answer 3) d) All of the above

While variable life, whole life and universal life insurance all have built-in cash value, term life does not.

Answer 4) c) Jewellery

You may purchase extended coverage for items such as jewellery that have values above personal property coverage limits.

Answer 5) a) Fund your IRA

Answer 6) a) Gain

Pure Risk is the chance of loss or no loss occuring.

With Pure Risks, There is no chance of experiencing a gain.

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.